TOWN OF PORT HEDLAND MONTHLY FINANCIAL REPORT For … · 4 Please refer to Compilation Report. TOWN OF PORT HEDLAND NOTES TO THE STATEMENT OF FINANCIAL ACTIVITY For the Period Ended

TOWN OF PORT HEDLANDMONTHLY FINANCIAL REPORT

For the Period Ended 31 October 2017

LOCAL GOVERNMENT ACT 1995

LOCAL GOVERNMENT (FINANCIAL MANAGEMENT) REGULATIONS 1996

TABLE OF CONTENTS

Summary Graphs - Financial Activity 2

Statement of Financial Activity by Program 3

Statement of Financial Activity By Nature or Type 4

Note 1 Significant Accounting Policies 5-7

Note 2 Net Current Funding Position 8

Note 3 Capital - Acquisitions, Funding and Disposal 9-14

Note 4 Cash and Investments 15-17

Note 5 Receivables 18

Note 6 Payables 19

Note 7 Cash Backed Reserves 20

Note 8 Rating Information 21

Note 9 Information on Borrowings 22

Note 10 Grants and Contributions 23

Note 11 Budget Amendments 24

Note 12 Trust Fund 25

Note 13 Material Variances 26-27

ATTACHMENT 2 TO ITEM 15.2

This information is to be read in conjunction with the accompanying Financial Statements and Notes.

Town of Port HedlandInformation Summary


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Rates76%

Operating Grants, Subsidies and Contributions6%

Fees and Charges16%

Service Charges1%

Interest Earnings1%

Other Revenue0%

Operating RevenueEmployee costs40%

Materials and contracts20%

Utility charges (electricity, gas, water etc.)5%

Depreciation on non-current assets27%

Interest expense1%

Insurance expense2%

Other expenditure5%

Loss on asset disposal0%

Operating Expenditure

2 Please refer to Compilation Report

Var. $

(b)-(a)

Var. %

(b)-(a)/(a)

Note

$ $ $ $ %

Opening Funding Surplus(Deficit) 2 4,500,000 4,500,000 4,125,132 (374,868) (8%)

Revenue from operating activities

Governance 0 0 0 0 0%

General Purpose Funding - Rates 25,003,484 25,003,483 25,020,674 17,191 0%

General Purpose Funding - Other 9,341,378 3,033,776 1,630,451 (1,403,325) (46%)

Law, Order, Public Safety 283,030 (5,668) 66,387 72,055 (1271%)

Health 198,394 66,116 65,316 (800) (1%)

Education and Welfare 485,625 161,860 140,573 (21,287) (13%)

Housing 307,560 102,512 52,205 (50,307) (49%)

Community amenities 9,510,480 4,865,144 4,422,677 (442,467) (9%)

Recreation and Culture 1,720,253 858,684 690,919 (167,765) (20%)

Transport 189,374 63,120 140,794 77,674 123%

Economic Services 924,697 308,220 268,065 (40,155) (13%)

Other Property and Services 621,595 207,184 313,521 106,337 51%

48,585,871 34,664,431 32,811,581 (1,852,850)

Expenditure from operating activities

Governance (3,107,369) (1,046,408) (844,211) 202,197 19%

General Purpose Funding (355,640) (82,902) (91,867) (8,965) (11%)

Law, Order, Public Safety (2,207,921) (732,662) (477,026) 255,636 35%

Health (2,485,218) (771,572) (622,959) 148,613 19%

Education and Welfare (1,177,448) (402,124) (311,284) 90,840 23%

Housing (536,732) (191,155) (154,627) 36,529 19%

Community Amenities (8,128,114) (2,140,437) (1,774,425) 366,012 17%

Recreation and Culture (20,239,179) (7,032,580) (6,529,963) 502,617 7%

Transport (21,353,161) (7,144,217) (3,091,412) 4,052,805 57%

Economic Services (995,780) (332,606) (400,428) (67,822) (20%)

Other Property and Services (3,046,481) (1,192,079) (248,734) 943,344 79%

(63,633,042) (21,068,741) (14,546,935) 6,521,807

Operating activities excluded from budget

Add back Depreciation 12,914,004 4,304,544 3,918,877 (385,667) (9%)

Adjust (Profit)/Loss on Disposal (23,158) 0 (170,486) (170,486) 100%

Tranfer to/(from) Non current (924,160) 0 0 0 (100%)

Amount attributable to operating activities (3,080,484) 17,900,234 22,013,036 4,112,803

Investing activities

Grants, Subsidies and Contributions 3,285,644 1,095,200 140,786 (954,414) (87%)

Proceeds from Disposal of Assets 3 300,000 300,000 170,486 (129,514) (43%)

Land and buildings (4,418,671) (2,673,672) (970,942) 1,702,730 (64%)

Furniture & Equipment 3 (357,249) (119,076) (26,098) 92,978 78%

Plant & Equipment 3 (1,546,972) (270,652) (341,930) (71,278) (26%)

Infrastructure 3 (14,837,610) (6,027,337) (2,833,153) 3,194,184 53%

Amount attributable to investing activities (17,574,858) (7,695,537) (3,860,850) 3,215,884

Financing activities

Proceeds from New Debentures 9 0 0 0 0

Proceeds from self supporting loans 9 95,511 23,878 58,279 34,401 144%

Transfer from Reserves 7 25,479,006 2,123,250 0 (2,123,250) (100%)

Repayment of Debentures 9 (1,241,596) 0 (432,176) (432,176) 100%

Transfer to Reserves 7 (7,822,102) (651,842) 0 651,842 100%

Amount attributable to financing activities 16,510,818 1,495,286 (373,898) (1,869,184)

Closing Funding Surplus(Deficit) 2 355,476 16,199,983 21,903,420

Refer to the attached Explanation of Material Variances Statement for an explanation of the reasons for material variances as per the thresholds adopted.

This statement is to be read in conjunction with the accompanying financial statements and notes.

YTD

Actual

(b)

YTD

Budget

(a)

Adopted Annual

Budget

TOWN OF PORT HEDLAND

STATEMENT OF FINANCIAL ACTIVITY

Statutory Reporting Program



Var. $

(b)-(a)

Var. %

(b)-(a)/(a)

Note

$ $ $ $ %

Opening Funding Surplus(Deficit) 2 4,500,000 4,500,000 4,125,132 (374,868)

Revenue from operating activities

Rates 25,003,484 25,003,483 25,020,674 17,191 0%

Operating grants, subsidies and contributions 3,660,767 1,505,560 1,860,987 355,427 24%

Fees and charges 11,903,228 5,662,656 5,095,898 (566,758) (10%)

Interest earnings 6,657,703 2,139,220 415,146 (1,724,074) (81%)

Other revenue 1,337,531 445,792 248,389 (197,403) (44%)

Profit on disposal of assets 23,158 0 170,486 170,486

48,585,871 34,756,711 32,811,581 (1,945,130)

Expenditure from operating activities

Employee costs (18,375,503) (6,357,949) (5,808,588) 549,361 9%

Materials and contracts (25,459,203) (7,867,524) (2,937,865) 4,929,659 63%

Utility charges (electricity, gas, water etc.) (3,053,311) (1,017,700) (777,803) 239,897 24%

Depreciation on non-current assets (12,914,004) (4,304,544) (3,918,877) 385,667 9%

Interest expense (1,198,001) (384,535) (107,296) 277,238 72%

Insurance expense (835,970) (406,718) (219,321) 187,397 46%

Other expenditure (1,797,047) (729,772) (777,184) (47,412) (6%)

Loss on asset disposal 0 0 0 0

(63,633,042) (21,068,741) (14,546,935) 6,521,807

Operating activities excluded from budget

Add back Depreciation 12,914,004 4,304,544 3,918,877 (385,667) (9%)

Add back (Profit)/Loss on Asset Disposal (23,158) 0 (170,486) (170,486)

Transfer to/(from) Non-Current (924,160) 0 0 0

Amount attributable to operating activities (3,080,484) 17,992,514 22,013,036 4,020,523

Investing activities

Non-operating grants, subsidies and contributions 3,285,644 1,095,200 140,786 (954,414) (87%)

Proceeds from Disposal of Assets 3 300,000 300,000 170,486 (129,514) (43%)

Land and buildings (4,418,671) (2,673,672) (970,942)

Furniture & Equipment (357,249) (119,076) (26,098) 92,978 (78%)

Plant & Equipment 3 (1,546,972) (270,652) (341,930) (71,278)

Infrastructure 3 (14,837,610) (6,027,337) (2,833,153) 3,194,184 53%

Amount attributable to investing activities (17,574,858) (7,695,537) (3,860,850) 3,215,884

Financing activities

Proceeds from New Debentures 9 0 0 0 0

Proceeds from self supporting loans 9 95,511 23,878 58,279

Transfer from Reserves 7 25,479,006 2,123,250 0 (2,123,250) (100%)

Repayment of Debentures 9 (1,241,596) 0 (432,176) (432,176)

Transfer to Reserves 7 (7,822,102) (651,842) 0 651,842 100%

Amount attributable to financing activities 16,510,818 1,495,286 (373,898) (1,903,585)

Closing Funding Surplus(Deficit) 2 355,476 16,292,263 21,903,420

This statement is to be read in conjunction with the accompanying financial statements and notes.


Adopted

Annual

Budget

YTD

Budget

(a)

YTD

Actual

(b)


STATEMENT OF FINANCIAL ACTIVITY

By Nature or Type



TOWN OF PORT HEDLANDNOTES TO THE STATEMENT OF FINANCIAL ACTIVITY


NOTES TO THE STATEMENT OF FINANCIAL POSITION For the period ended

1. SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Accounting This statement comprises a special purpose financial report which has been prepared in accordance with Australian Accounting Standards (as they apply to local governments and not-for-profit entities), Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board, the Local Government Act 1995 and accompanying regulations. Material accounting policies which have been adopted in the preparation of this statement are presented below and have been consistently applied unless stated otherwise. Except for cash flow and rate setting information, the report has also been prepared on the accrual basis and is based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and liabilities. Critical Accounting Estimates The preparation of a financial report in conformity with Australian Accounting Standards requires management to make judgements, estimates and assumptions that effect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances; the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. (b) The Local Government Reporting Entity All Funds through which the Council controls resources to carry on its functions have been included in this statement. In the process of reporting on the local government as a single unit, all transactions and balances between those funds (for example, loans and transfers between Funds) have been eliminated. All monies held in the Trust Fund are excluded from the statement, but a separate statement of those monies appears at Note 11. (c) Rounding Off Figures All figures shown in this statement are rounded to the nearest dollar. (d) Rates, Grants, Donations and Other Contributions Rates, grants, donations and other contributions are recognised as revenues when the local government obtains control over the assets comprising the contributions. Control over assets acquired from rates is obtained at the commencement of the rating period or, where earlier, upon receipt of the rates. (e) Goods and Services Tax Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). Receivables and payables are stated inclusive of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with receivables or payables in the statement of financial position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to, the ATO are presented as operating cash flows. (f) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash at bank, deposits available on demand with banks and other

short term highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and bank overdrafts. Bank overdrafts are reported as short term borrowings in current liabilities in the statement of financial position. (g) Trade and Other Receivables Trade and other receivables include amounts due from ratepayers for unpaid rates and service charges and other amounts due from third parties for goods sold and services performed in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets. Collectability of trade and other receivables is reviewed on an ongoing basis. Debts that are known to be uncollectible are written off when identified. An allowance for doubtful debts is raised when there is objective evidence that they will not be collectible. (h) Inventories General Inventories are measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Land Held for Resale Land held for development and sale is valued at the lower of cost and net realisable value. Cost includes the cost of acquisition, development, borrowing costs and holding costs until completion of development. Finance costs and holding charges incurred after development is completed are expensed. Gains and losses are recognised in profit or loss at the time of signing an unconditional contract of sale if significant risks and rewards, and effective control over the land, are passed on to the buyer at this point. Land held for sale is classified as current except where it is held as non-current based on Council’s intentions to release for sale. (i) Fixed Assets All assets are initially recognised at cost. Cost is determined as the fair value of the assets given as consideration plus costs incidental to the acquisition. For assets acquired at no cost or for nominal consideration, cost is determined as fair value at the date of acquisition. The cost of non-current assets constructed by the local government includes the cost of all materials used in the construction, direct labour on the project and an appropriate proportion of variable and fixed overhead. Certain asset classes may be revalued on a regular basis such that the carrying values are not materially different from fair value. Assets carried at fair value are to be revalued with sufficient regularity to ensure the carrying amount does not differ materially from that determined using fair value at reporting date. (j) Depreciation of Non-Current Assets All non-current assets having a limited useful life are systematically depreciated over their useful lives in a manner which reflects the consumption of the future economic benefits embodied in those assets


Note 1 (j) (Continued)


For the Period Ended 31 October 2017NOTES TO THE STATEMENT OF FINANCIAL POSITION For the period ended

Depreciation is recognised on a straight-line basis, using rates which are reviewed each reporting period. Major depreciation rates and periods are:

Asset Years

Buildings 30 to 50 years

Furniture and Equipment 4 to 10 years

Plant and Equipment 5 to 15 years

Sealed roads and streets – formation not depreciated

- pavement 50 years

Seal - bituminous seals 20 years

- asphalt surfaces 25 years

Gravel Roads - formation not depreciated

- pavement 50 ears

- gravel sheet 12 years

Formed roads - formation not depreciated

pavement 50 years

Footpaths - slab 20 years

Sewerage piping 100 years

Water supply & drainage systems 75 years

(k) Trade and Other Payables Trade and other payables represent liabilities for goods and services provided to the Council prior to the end of the financial year that are unpaid and arise when the Council becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured, are recognised as a current liability and are normally paid within 30 days of recognition. (l) Employee Benefits The provisions for employee benefits relates to amounts expected to be paid for long service leave, annual leave, wages and salaries and are calculated as follows: (i) Wages, Salaries, Annual Leave and Long Service Leave

(Short-term Benefits) The provision for employees’ benefits to wages, salaries, annual leave and long service leave expected to be settled within 12 months represents the amount the Shire has a present obligation to pay resulting from employees services provided to balance date. The provision has been calculated at nominal amounts based on remuneration rates the Shire expects to pay and includes related on-costs. (ii) Annual Leave and Long Service Leave (Long-term

Benefits) The liability for long service leave is recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the project unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match as closely as possible, the estimated future cash outflows. Where the Shire does not have the unconditional right to defer settlement beyond 12 months, the liability is recognised as a current liability. (m) Interest-bearing Loans and Borrowings All loans and borrowings are initially recognised at the fair value of the consideration received less directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method. Fees paid on the establishment of loan facilities that are yield

related are included as part of the carrying amount of the loans and borrowings. Borrowings are classified as current liabilities unless the Council has an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. Borrowing Costs Borrowing costs are recognised as an expense when incurred except where they are directly attributable to the acquisition, construction or production of a qualifying asset. Where this is the case, they are capitalised as part of the cost of the particular asset. (n) Provisions Provisions are recognised when: The council has a present legal or constructive obligation as a result of past events; it is more likely than not that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one of item included in the same class of obligations may be small. (o) Current and Non-Current Classification In the determination of whether an asset or liability is current or non-current, consideration is given to the time when each asset or liability is expected to be settled. The asset or liability is classified as current if it is expected to be settled within the next 12 months, being the Council's operational cycle. In the case of liabilities where Council does not have the unconditional right to defer settlement beyond 12 months, such as vested long service leave, the liability is classified as current even if not expected to be settled within the next 12 months. Inventories held for trading are classified as current even if not expected to be realised in the next 12 months except for land held for resale where it is held as non current based on Council's intentions to release for sale. (p) Nature or Type Classifications Rates All rates levied under the Local Government Act 1995. Includes general, differential, specific area rates, minimum rates, interim rates, back rates, ex-gratia rates, less discounts offered. Exclude administration fees, interest on instalments, interest on arrears and service charges. Operating Grants, Subsidies and Contributions Refer to all amounts received as grants, subsidies and contributions that are not non-operating grants. Non-Operating Grants, Subsidies and Contributions Amounts received specifically for the acquisition, construction of new or the upgrading of noncurrent assets paid to a local government, irrespective of whether these amounts are received as capital grants, subsidies, contributions or donations. Profit on Asset Disposal Profit on the disposal of assets including gains on the disposal of long term investments. Losses are disclosed under the expenditure classifications.


Note 1 (p) (Continued)


For the Period Ended 31 October 2017NOTES TO THE STATEMENT OF FINANCIAL POSITION For the period ended

Fees and Charges Revenues (other than service charges) from the use of facilities and charges made for local government services, sewerage rates, rentals, hire charges, fee for service, photocopying charges, licences, sale of goods or information, fines, penalties and administration fees. Local governments may wish to disclose more detail such as rubbish collection fees, rental of property, fines and penalties, other fees and charges. Service Charges Service charges imposed under Division 6 of Part 6 of the Local Government Act 1995. Regulation 54 of the Local Government (Financial Management) Regulations 1996 identifies the These are television and radio broadcasting, underground electricity and neighbourhood surveillance services. Exclude rubbish removal charges. Interest and other items of a similar nature received from bank and investment accounts, interest on rate instalments, interest on rate arrears and interest on debtors. Interest Earnings Interest and other items of a similar nature received from bank and investment accounts, interest on rate instalments, interest on rate arrears and interest on debtors. Other Revenue / Income Other revenue, which can not be classified under the above

headings, includes dividends, discounts, rebates etc.

Employee Costs

All costs associate with the employment of person such as salaries, wages, allowances, benefits such as vehicle and housing, superannuation, employment expenses, removal expenses, relocation expenses, worker's compensation insurance, training costs, conferences, safety expenses, medical examinations, fringe benefit tax, etc. Materials and Contracts All expenditures on materials, supplies and contracts not classified under other headings. These include supply of goods and materials, legal expenses, consultancy, maintenance agreements, communication expenses, advertising expenses, membership, periodicals, publications, hire expenses, rental, leases, postage and freight etc. Local governments may wish to disclose more detail such as contract services, consultancy, information technology, rental or lease expenditures. Utilities (Gas, Electricity, Water, etc.) Expenditures made to the respective agencies for the provision of power, gas or water. Exclude expenditures incurred for the reinstatement of roadwork on behalf of these agencies. Insurance All insurance other than worker's compensation and health benefit insurance included as a cost of employment. Loss on asset disposal Loss on the disposal of fixed assets. Depreciation on non-current assets Depreciation expense raised on all classes of assets. Interest expenses Interest and other costs of finance paid, including costs of finance for loan debentures, overdraft accommodation and refinancing expenses. Other expenditure Statutory fees, taxes, provision for bad debts, member's fees or levies including WA Fire Brigade Levy and State taxes. Donations and subsidies made to community groups.

(r) Program Classifications (Function/Activity) Governance Includes the activities of members of council and the administrative support available to the council for the provision of governance of the district. Other costs relate to the task of assisting elected members and ratepayers on matters which do not concern specific council services. General Purpose Funding Rates, general purpose government grants and interest revenue. Law, Order, Public Safety Supervision and enforcement of various local laws relating to fire prevention, animal control and other aspects of public safety including emergency services. Health Inspection of food outlets and their control, provision of meat inspection services, noise control and waste disposal compliance. Education and Welfare Maintenance of child minding centre, playgroup centre, senior citizen centre and aged care centre. Provision and maintenance of home and community care programs and youth services. Housing Provision and maintenance of elderly residents housing. Community Amenities Rubbish collection services, operation of rubbish disposal sites, litter control, construction and maintenance of urban storm water drains, protection of the environment and administration of town planning schemes, cemetery and public conveniences. Recreation and Culture Maintenance of public halls, civic centres, aquatic centre, beaches, recreation centres and various sporting facilities. Provision and maintenance of parks, gardens and playgrounds. Operation of library, museum and other cultural facilities. Transport Construction and maintenance of roads, streets, footpaths, depots, cycle ways, parking facilities and traffic control. Cleaning of streets and maintenance of street trees, street lighting etc. Economic Services Tourism and area promotion including the maintenance and operation of a caravan park. Provision of rural services including weed control, vermin control and standpipes. Building Control. Other Property and Services Private works operation, plant repair and operation costs and engineering operation costs.


NOTE 2. NET CURRENT ASSETS

Net Current Assets Note 30 June 2017 YTD 31 Oct 2016 YTD 31 Oct 2017

$ $ $

Current Assets

Municipal 4 3,587,249 13,555,000 7,239,327

Reserves 4 239,453,066 239,542,000 239,453,066

Receivables - Rates 5 2,675,895 9,425,000 11,044,213

Receivables - Other 5 4,784,915 533,000 2,988,122

Inventories 803,360 941,000 803,360

Land held for resale 466,842 730,000 466,842

251,771,328 264,726,000 261,994,931

Less: Current Liabilities

Payables 6 (7,501,551) (1,795,000) (182,069)

Loan Liability - Current (1,241,592) (1,171,000) (1,241,592)

Provisions (16,995,704) (18,224,000) (16,760,501)

Less: Cash Reserves (239,453,066) (239,631,000) (239,453,066)

Less: Self supporting loan receivable (104,294) (90,000) (104,294)

Less: Land held for resale (466,842) (730,000) (466,842)

Add: Current loan liability 1,241,592 1,171,000 1,241,592

Add: Premium PHIA prepaid 924,160 924,000 924,160

Add: Employee provisions cash backed 875,612 876,000 875,612

Add: Airport major works 15,075,490 15,872,000 15,075,490

Net Current Funding Position * 4,125,132 21,928,000 21,903,420

* Positive=Surplus (Negative=Deficit)


NOTES TO THE STATEMENT OF FINANCIAL ACTIVITY


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NOTE 3. CAPITAL - ACQUISITIONS AND FUNDING

Summary Capital

Acquisitions Note

Adopted

annual

Budget YTD Budget

YTD Actual

Total Variance

$ $ $ $

Land and buildings (4,418,671) (2,673,672) (970,942) (1,702,730)

Furniture & Equipment (357,249) (119,076) (26,098) (92,978)

Plant & Equipment (1,546,972) (270,652) (341,930) 71,278

Infrastructure (14,837,610) (6,027,337) (2,833,153) (3,194,184)

Capital Expenditure Totals (21,160,502) (9,090,737) (4,172,123) (4,918,614)

Capital Acquisitions Funded By

Capital Grants and Contributions 3,285,644 1,095,200 140,786

Borrowings 0 0 0

Other (Disposals & C/Fwd) 300,000 300,000 170,486

Council Contribution - Cash Backed Reserves

Plant Replacement Reserve 0 0 0

Building Reserve 0 0 0

Council Contribution - Operations 17,574,858 7,695,537 3,860,850

Capital Funding Total 21,160,502 9,090,737 4,172,123




$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000

Land and buildings

Furniture & Equipment

Plant & Equipment

Infrastructure

Amount $(000's)Capital Expenditure Program YTD

YTD Budget YTD Actual Total


NOTE 3. CAPITAL ACQUISITIONS

Capital Acquisitions

Account New/Renewal/Upgra

de

Budget YTD Budget YTD Actual Variance

(Under)/

Over

$

Variance

(Under)/

Over %

Land & Buildings

Building Renewal and Upgrade program C1102000 Renewal 130,438 292,812 (292,812) (100%)

Civic Centre: Asset Management Plan Critical Obligations and OHS C1102000 Renewal 105,000 35,000 130,677 95,677 273%

Commercial Building Renewal Program C1102000 Renewal 748,000 292,812 55,320 (237,492) (81%)

Council Records Storage C1405000 New 60,000 20,000 840 (19,160) (96%)

Depot Office Building C1201000 New 250,000 83,332 94 (83,238) (100%)

Faye Gladstone Netball Courts Clubroom Upgrade C1108000 Upgrade 1,361,972 1,361,972 593,125 (768,847) (56%)

Housing Renewal Program C0901000 Renewal 347,000 115,664 48,887 (66,777) (58%)

JD Hardie Expansion C0810000 Upgrade 150,000 50,000 - (50,000) (100%)

Matt Dann Theatre & Cinema: Venue Improvement C1118000 Renewal 176,261 58,752 102,188 43,436 74%

Port Hedland Community Facilities (Turf club) C1007000 New 100,000 33,332 - (33,332) (100%)

South Hedland Aquatic Centre: Install accessibility toilets and

change room

C1105000 New 130,000 43,332 4,495 (38,837) (90%)

South Hedland Civic Facilities business and concept design C1115000 New 400,000 133,332 - (133,332) (100%)

South Hedland Sports Precinct C1108000 New 400,000 133,332 34,745 (98,587) (74%)

Workshop upgrades C1403000 Upgrade 60,000 20,000 571 (19,429) (97%)

Land & Buildings Total 4,418,671 2,673,672 970,942 (1,702,730)








de


(Under)/

Over

$

Variance

(Under)/

Over %




Furniture & Equipment

ICT Hardware and Renewal C1405000 Renewal 100,000 33,332 - (33,332) (100%)

ICT Software Landfill C1004000 New 30,000 10,000 23,882 13,882 139%

Iphone Replacement C1405000 Renewal 20,000 6,664 2,216 (4,448) (67%)

ITC Strategy & Outcomes C1405000 New 100,000 33,332 - (33,332) (100%)

Phase 2 Digital - Complete installation of ToPH digital radio system

in vehicles and heavy equipment.

C1403000 Upgrade 44,318 14,772 - (14,772) (100%)

Printer Replacement C1405000 Renewal 62,931 20,976 - (20,976) (100%)

Furniture & Equipment Total 357,249 119,076 26,098 (92,978)

Plant & Equipment

Civic Centre HVAC System and Ducting Renewal C1102000 Upgrade 251,560 83,852 318,356 234,504 280%

Diesel Generators for Civic Centre, Depot, Landfill and Evacuation

Centre

C0503000 New 180,000 60,000 - (60,000) (100%)

Large Plant Replacement Program C1403000 Renewal 550,000 - 23 23 0%

Light Fleet Replacement Program C1403000 Renewal 150,000 - 0 0%

Portable Lighting Towers C1403000 New 20,000 6,664 - (6,664) (100%)

Small Plant Replacement Program C1403000 Renewal 35,000 - 7,148 7,148 0%

South Hedland Water Treatment Plant C1004000 Upgrade 360,412 120,136 16,403 (103,733) (86%)

Plant & Equipment Total 1,546,972 270,652 341,930 71,278 26%





de


(Under)/

Over

$

Variance

(Under)/

Over %




Infrastructure 0%

Carparks Renewal Program C1201000 Renewal 270,000 90,000 1,675 (88,325) (98%)

Cassia Primary School Footbridge C1201000 Upgrade 125,000 - 326 326 0%

Cemetery Masterplan C1107000 New 21,204 7,068 8,717 1,649 23%

Community Chest Fund 2016: Tourism Signage C1301000 New 82,000 27,332 - (27,332) (100%)

Depot wash-down bay - Oily Water Separator – workshop and silt

drain work

C1201000 Upgrade 180,000 - 864 864 0%

Drainage Construction Wanangkura Stadium & Faye Gladstone

Netball Courts

C1201000 Upgrade 410,957 136,984 4,357 (132,627) (97%)

Drainage Renewal Program C1201000 Renewal 300,000 100,000 148,515 48,515 49%

Footpath Renewal Program C1201000 Renewal 400,000 - 5,761 5,761 0%

Gratwick Aquatic Centre - Remedial Works C1105000 Renewal 300,000 100,000 - (100,000) (100%)

Installation of a new store, storage bins, fencing and tank. C1403000 Upgrade 600,000 200,000 9,969 (190,031) (95%)

Intersection - Lukis & McGregor Streets C1201000 Upgrade 152,000 - 5,927 5,927 0%

Intersection – Murdoch Drive & Brolga Way C1201000 Upgrade 205,500 - 4,494 4,494 0%

Intersection – Murdoch Drive & Masters Way C1201000 Upgrade 205,500 - 4,127 4,127 0%

Irrigation Inground renewal - Port Hedland C1402000 Renewal 45,000 15,000 - (15,000) (100%)

Irrigation Inground renewal - South Hedland C1402000 Renewal 110,000 36,664 6,960 (29,704) (81%)

Kerbing Renewal Program C1201000 Renewal 100,000 33,332 - (33,332) (100%)

Kingsford Smith Business Park Landscaping C1304000 New 54,154 18,048 76,248 58,200 322%

Line marking & Traffic Calming C1201000 Renewal 100,000 33,332 - (33,332) (100%)

Marina boating facility location options investigation C1304000 New 3,000,000 1,000,000 51,488 (948,512) (95%)

Marrapikarinya park handrail replacement C1108000 Renewal 64,000 21,332 158 (21,174) (99%)

McGregor, Athol, Cooke Point Roundabout Rehabilitation C1201000 Renewal 55,000 54,999 16,082 (38,917) (71%)





de


(Under)/

Over

$

Variance

(Under)/

Over %




North Circular Roundabout Landscape and Intersection Upgrades C1201000 Upgrade 200,000 66,664 365 (66,299) (99%)

Pinga st C1201000 Renewal 112,000 37,332 898 (36,434) (98%)

Pinga Street - Rehabilitation of Existing Pavement C1201000 Upgrade 2,236,246 2,236,246 1,700,753 (535,493) (24%)

Pipingarra C1201000 Renewal 90,000 30,000 4,579 (25,421) (85%)

Playgrounds Renewal Program C1108000 Renewal 150,000 - - 0 0%

Port Hedland standpipe swipe card activation C1401000 New 40,000 40,000 17,808 (22,192) (55%)

Sealed Roads Renewal Program C1201000 Renewal 1,068,000 356,000 38,075 (317,925) (89%)

Shade Structures C1107000 Renewal 350,000 116,664 - (116,664)

South Hedland Aquatic Centre - Work to renew and upgrade to

working condition

C1105000 Renewal 500,000 166,664 35,818 (130,846)

South Hedland Cemetery Upgrade C1107000 Upgrade 27,123 9,040 16,364 7,324 81%

South Hedland Skate Park CPTED Design Response C1108000 New 15,000 5,000 23 (4,977) (100%)

Styles Road Roundabout C1201000 Upgrade 34,000 11,332 - (11,332) (100%)

Unsealed Road Resheeting Program C1201000 Renewal 625,000 208,332 129,282 (79,050) (38%)

Upgrades to staff welfare facilities - Landfill C1004000 New 886,000 295,332 535,644 240,312 81%

WANDRRA project C1201000 Renewal 1,678,926 559,640 7,876 (551,764) (99%)

Yandeyarra C1201000 Renewal 45,000 15,000 - (15,000) (100%)

Infrastructure Total 14,837,610 6,027,337 2,833,153 (3,194,184)



NOTE 3. CAPITAL DISPOSALS

Asset

Number Asset Description

Net Book

Value Proceeds Profit (Loss)

Net Book

Value Proceeds Profit (Loss)

$ $ $ $ $ $ $

Disposals 0 170,486 170,486 0 323,158 300,000 23,158 0

0 170,486 170,486 0 0 300,000 23,158 0

The Town has received proceeds of $170,486 for the sale of assets.

The sale has not been processed at the time the report was prepared.




YTD Actual Adopted Budget


NOTE 4. CASH AND INVESTMENTS

Total

Bank Accounts Note Municipal Reserves Trust Amount

$ $ $ $

(a) Cash Deposits

Municipal Account 2,111,557 2,111,557

Other cash (2,497 ) (2,497 )

At Call 5,000,000 5,000,000

Cash on Hand 4,250 4,250

Trust Fund Bank 168,634

(b) Term Deposits

Cash Restricted:Reserve Fund 4a 1,000 1,000

Funds Invested : Airport Lease Proceeds 4a 166,978,083 166,978,083

Funds Invested : Pooled 4a 126,017 72,473,983 72,600,000

Total 7,239,327 239,453,066 168,634 246,692,393

Please refer to Note 4a for further detail





NOTE 4a CASH AND INVESTMENTS

Bank Accounts Princicpal % of Portfolio Average Interest

$

AMP Bank 5,000,000 2.04% 2.63%

ANZ 48,224,000 19.70% 2.50%

Bank of Queensland 18,200,000 7.44% 2.68%

CBA 30,802,494 12.59% 2.57%

Intech Bank 5,000,000 2.04% 2.78%

National Australia Bank 38,814,382 15.86% 2.58%

Westpac 85,193,831 34.81% 2.59%

Beyond Bank 4,600,000 1.88% 2.70%

Rural Bank 5,000,000 2.04% 2.70%

ME Bank 3,900,000 1.59% 2.70%

244,734,707




AMP Bank2%

ANZ20%

Bank of Queensland8%

CBA13%

National Australia Bank17%

Westpac36%

Beyond Bank 2%

Rural Bank 2%

AMP Bank ANZBank of Queensland CBANational Australia Bank Westpac(blank) Beyond BankRural Bank


NOTE 4a CASH AND INVESTMENTS




Bank Accounts Principal Credit Rating Interest Rate Term Term to Maturity Maturity Date Interest on Maturity % Portfolio

NAB 5,000,000 2.00% On call 2.04%

Bank of Queensland 1,000,000 A-2 2.70% 365 3 03/11/2017 27,000 0.41%

ANZ 2,000,000 A1+ 2.69% 365 4 04/11/2017 53,800 0.82%

Beyond Bank 2,700,000 A-2 2.70% 264 13 13/11/2017 52,728 1.10%

National Australia Bank 2,000,000 A1+ 2.78% 355 20 20/11/2017 54,077 0.82%



Intech Bank 1,000,000 A-2 2.80% 285 49 19/12/2017 21,863 0.41%

Rural Bank 5,000,000 A-2 2.70% 294 50 20/12/2017 108,740 2.04%

Intech Bank 1,000,000 A-2 2.75% 301 71 10/01/2018 22,678 0.41%

Intech Bank 3,000,000 A-2 2.80% 294 85 24/01/2018 67,660 1.23%

Beyond Bank 1,900,000 A-2 2.70% 293 99 07/02/2018 41,181 0.78%

AMP Bank 1,500,000 A-1 2.70% 279 104 12/02/2018 30,958 0.61%

ME Bank 3,900,000 A-2 2.70% 300 114 22/02/2018 86,548 1.59%

AMP Bank 2,000,000 A-1 2.60% 279 114 22/02/2018 39,748 0.82%



AMP Bank 1,500,000 A-1 2.60% 364 220 08/06/2018 38,893 0.61%






CBA 5,000,000 A1+ 2.62% 334 307 03/09/2018 119,874 2.04%


Westpac 4,000,000 A1+ 2.58% 340 335 01/10/2018 96,132 1.63%

PHIA Westpac 20,599,831 A1+ 2.60% 183 36 06/12/2017 268,531 8.42%

PHIA National Australia Bank 12,703,605 A1+ 2.50% 185 41 11/12/2017 160,970 5.19%

PHIA National Australia Bank 5,110,777 A1+ 2.50% 185 41 11/12/2017 64,760 2.09%

PHIA Westpac 56,694,000 A1+ 2.60% 185 41 11/12/2017 747,118 23.17%

PHIA ANZ 46,224,000 A1+ 2.30% 185 41 11/12/2017 538,858 18.89%

PHIA CBA 25,802,494 A1+ 2.52% 181 132 12/03/2018 322,439 10.54%

Total 244,734,707 3,720,704

PHIA Investment of the proceeds from the advance payment of the 50 year lease of the Port Hedland International Airport, as per Council Resolution 201516/257.


NOTE 5. RECEIVABLES

Receivables - Rates and Other Rates Receivable YTD 31 Oct 2017 30 June 2017 Receivables - General Credit Current 30 Days 60 Days 90+Days Total

$ $ $ $ $ $ $ $

Opening Arrears Previous Years 2,675,895 1,083,000 Receivables - General (6,426) 1,121,086 572,640 135,543 848,911 2,671,754

Levied this year 25,020,674 23,948,991 Balances per Trial Balance

Less Collections to date (16,652,357) (22,356,096) Sundry Debtors 2,671,754

Equals Current Outstanding 11,044,213 2,675,895 Underground power 357,832

Receivables - Other 259,924

Accruals 582,329

Self Supporting Loan 104,294

Provision for Doubtful Debts (988,011)

Net Rates Collectable 11,044,213 2,675,895 Total Receivables General Outstanding 2,988,122

% Collected 60% 89% Amounts shown above include GST (where applicable)




0

5,000

10,000

15,000

20,000

25,000

30,000

35,000


Am

ou

nt

$('

00

0s)

Rates Receivable

2016-17 2017-18

Sundry Debtors

54%

Underground power

7%

Receivables -Other

5%

Accruals12%

Self Supporting

Loan2%

Provision for Doubtful

Debts-20%

Accounts Receivable (non-rates)


NOTE 6. PAYABLES

Payables Credit Current 30 Days 60 Days 90+Days Total

$ $ $ $ $ $

Payables - General 0 297,471 13,105 2,521 1,631 314,729

Balances per Trial Balance

Sundry Payables 346,500

Payables - Other

Other Payables 22,338

Income Received in Advance (57,128)

ATO Liability (174,806)

Accrued expenses 45,165

(164,431)

182,069

Amounts shown above include GST (where applicable)

Total Payables




Total Payables - Other

Sundry Payables

Payables - Other

Other Payables

Income Received in Advance

ATO Liability

Accrued expenses

Payables

Credit0%

Current94%

30 Days4%

60 Days1%

90+Days1%

Aged Payables Credit

Current

30 Days

60 Days

90+Days


NOTE 7. CASH BACKED RESERVES

Reserves

Opening

Balance

Adopted

Budget

Interest

Earned

Actual

Interest

Earned

Adopted

Budget

Transfers In

(+)

Actual

Transfers In

(+)

Adopted

Budget

Transfers Out

(-)

Actual

Transfers Out

(-) Transfer out Reference

Adopted

Budget

Closing

Balance

Actual YTD

Closing Balance

$ $ $ $ $ $ $ $ $

Community facilities reserve 247,246 0 0 0 0 0 0 247,246 247,246

Staff housing reserve 644,557 0 0 0 0 (347,000) 0 297,557 644,557

Leave reserve 875,612 0 0 0 0 0 0 875,612 875,612

Plant replacement reserve 2,147,636 0 0 612,039 0 (649,318) 0 2,110,357 2,147,636

Unfinalised works reserve 761,010 0 0 0 0 (759,381) 0 1,629 761,010

Insurance reserve 123,826 0 0 0 0 (123,826) 0 0 123,826

Developer contributions 259,481 0 0 0 0 (270,000) 0 (10,519) 259,481

Car parking reserve 269,788 0 0 0 0 0 0 269,788 269,788

Airport capital work reserve 15,075,490 0 0 0 0 (10,870,122) 0 4,205,368 15,075,490

Spoilbank development reserve 37,712,937 0 0 0 0 (3,150,000) 0 34,562,937 37,712,937

GP Housing 184,728 0 0 0 0 0 0 184,728 184,728

Asset management reserve 2,599,392 0 0 1,582,845 0 (2,698,799) 0 1,483,438 2,599,392

Waste management reserve 10,540,524 0 0 1,076,443 0 (2,926,412) 0 8,690,555 10,540,524

Strategic reserve 586,645 0 0 0 0 (87,000) 0 499,645 586,645

Unspent grants and contributions reserve 1,463,381 0 0 0 0 (1,567,213) 0 (103,831) 1,463,381

Port Hedland international airport long term lease proceeds reserve 165,848,844 0 0 4,548,225 0 (1,926,525) 0 168,470,543 165,848,844

Cyclone emergency support reserve 103,410 0 0 0 0 (103,410) 0 0 103,410

Historical heritage reserve 8,560 0 0 2,550 0 0 0 11,110 8,560

239,453,066 0 0 7,822,102 0 (25,479,006) 0 221,796,162 239,453,066





NOTE 8. RATING INFORMATION

Number

of Rateable Rate Interim Back Total Rate Interim Back Total

RATE Rate in Properties Value Revenue Rates Rates Revenue Revenue Rate Rate Revenue

Differential Rate $ $ $ $ $ $ $ $ $ $

GRV Residential 0.0549 2,392 261,259,140 14,339,208 (61,001) 0 14,278,207 14,339,208 100,000 0 14,439,208

Commercial 0.0419 105 25,989,627 1,088,887 0 0 1,088,887 1,088,887 0 0 1,088,887

Industrial 0.0310 357 65,675,882 2,033,982 0 0 2,033,982 2,033,982 0 0 2,033,982

Commecial/Industrial - Vacant 0.0616 47 3,998,244 246,112 0 0 246,112 246,112 0 0 246,112

Mass Accommodation 0.2600 6 12,436,000 3,233,360 0 0 3,233,360 3,233,360 0 0 3,233,360

Tourist Accommodation 0.1172 10 7,984,080 935,710 0 0 935,710 935,710 0 0 935,710

UV Mining 0.3793 306 3,050,586 1,156,935 0 0 1,156,935 1,156,935 0 0 1,156,935

Pastoral 0.1054 10 1,300,924 137,181 0 0 137,181 137,181 0 0 137,181

Other 0.2100 13 1,349,000 283,290 0 0 283,290 283,290 0 0 283,290

Sub-Totals 3,246 383,043,483 23,454,665 (61,001) 0 23,393,664 23,454,665 100,000 0 23,554,665

Minimum Payment Minimum $

GRV Residential 1,350 960 15,385,672 1,296,000 0 0 1,296,000 1,296,000 0 0 1,296,000

Commercial 2,000 57 1,682,560 114,000 0 0 114,000 114,000 0 0 114,000

Industrial 2,000 62 2,547,738 124,000 0 0 124,000 124,000 0 0 124,000

Commecial/Industrial - Vacant 1,180 47 448,045 55,460 0 0 55,460 55,460 0 0 55,460

Mass Accommodation 2,000 0 0 0 0 0 0 0 0 0 0

Tourist Accommodation 2,000 0 0 0 0 0 0 0 0 0 0

UV Mining 270 65 31,323 17,550 0 0 17,550 17,550 0 0 17,550

Pastoral 2,000 1 17,000 2,000 0 0 2,000 2,000 0 0 2,000

Other 2,000 9 4,047 18,000 0 0 18,000 18,000 0 0 18,000

Sub-Totals 1,201 20,116,385 1,627,010 0 0 1,627,010 1,627,010 0 0 1,627,010

Total 4,447 403,159,868 25,081,675 (61,001) 0 25,020,674 25,081,675 100,000 0 25,181,675

Discounts on Rates 0 (161,692)

Pensioner Gap-Cap (16,500)

25,020,674 25,003,484

Rates Written off 0 0

Total Rates 25,020,674 25,003,484

Amount from general rates




Adopted BudgetYTD Actual


NOTE 9. INFORMATION ON BORROWINGS

(a) Debenture RepaymentsPrincipal Principal Interest

Repayments Outstanding Repayments

Principal New 2017/18 2017/18 2017/18 2017/18 2017/18 2017/18

Particulars 1-Jul-17 Loans Actual Budget Actual Budget Actual Budget

$ $ $ $ $ $

Health

135 - GP Housing Loan 1,300,646 27,644 55,941 1,273,002 1,244,705 19,330 60,867

Education and welfare

129 - JD Hardie Upgrade 1,259,496 26,838 59,341 1,232,658 1,200,155 15,091 75,315

136 - JD Hardie Facility Upgrade 1,252,038 0 54,298 1,252,038 1,197,740 0 57,348

Housing

125 - Staff Housing - Morgans Street 1,120,848 35,056 63,161 1,085,792 1,057,687 12,904 74,609

127 - Staff Housing - Morgans Street 1,658,998 0 87,905 1,658,998 1,571,093 0 111,015

139 - Catamore Court 1,467,805 0 55,440 1,467,805 1,412,365 0 75,760

143 - Catamore Court Additional 310,723 0 31,608 310,723 279,115 0 7,748

Community amenities

134 - Underground Power 140,506 69,614 140,506 70,892 0 1,620 3,879

Recreation and culture

130 - Marquee Park 674,440 83,135 31,776 591,305 642,664 16,003 40,330

132 - Marquee Park 3,714,515 168,440 3,714,515 3,546,075 191,728

133 - Wanangkura Stadium 6,544,342 146,470 296,763 6,397,872 6,247,579 28,283 337,791

137 - Wanangkura Stadium 2,170,503 0 92,658 2,170,503 2,077,845 0 103,515

21,614,860 388,757 1,137,837 21,226,103 20,477,023 93,233 1,139,905

Self Supporting Loans

Law, order & public safety

123 - SES Shed 81,165 19,349 39,313 61,816 41,852 604 4,546


126 - Yacht Club 317,380 15,615 32,491 301,765 284,889 9,804 19,609

128 - Yacht Club 174,598 0 15,258 174,598 159,340 0 10,094

138 - South Hedland Bowls/Tennis 453,587 8,456 16,697 445,131 436,890 3,656 23,847

1,026,730 - 43,420 103,759 983,310 922,971 14,064 58,096

22,641,592 - 432,176 1,241,596 22,209,414 21,399,994 107,296 1,198,001

Self supporting loans financed by payments from third parties. All other loan repayments were financed by general purpose revenue.

(b) New Debentures - 2017/18

The Town of Port Hedland do not plan any new debentures in 2017/18 financial year.

(c) Unspent Debentures

The Town of Port Hedland had no unspent borrowing funds as at 30 June 2017 nor is it expected to have unspent borrowing funds at 30 June 2018.





Grant Provider Type YTD Annual Post

Operating Capital Budget Budget Variations Expected Revenue

(d) (e) (d)+(e)

$ $ $ $ $ $ $

General purpose funding

Grants Commission - General Purpose Grant Operating 1,213,712 404,568 1,213,712 0 1,213,712 702,189

Grants Commission - Formula Local Road Grant Operating 748,864 462,711 748,864 0 748,864 462,711

Law, order, public safety 0

State Emergency Services Operating Grant Operating 35,391 11,796 35,391 0 35,391 20,753

DFES Volunteer Bush Fire Brigade - Revenue Operating 10,000 3,332 10,000 210 10,210 10,210

Community Safety and Crime Prevention Revenue Operating 83,333 27,776 83,333 0 83,333 0

Education and welfare

Pest Control Revenue Operating 4,173 1,388 4,173 1,349 5,522 5,522

Community amenities 0

Landfill Projects - Revenue Operating 50,000 16,664 50,000 0 50,000 0

Community Contributions: Mia Mia Operating 464,845 154,948 464,845 0 464,845 0


Gratwick Olympic Pool Revenue Operating 32,000 10,664 32,000 0 32,000 0

SHAC Aquatic Centre Revenue Operating 32,000 10,664 32,000 0 32,000 0

Recreation Administration Revenue Operating 7,500 2,500 7,500 0 7,500 6,000

Recreation Club Development Revenue Operating 43,000 14,332 43,000 0 43,000 40,000

Recreation Minor Events - Revenue Operating 4,000 1,332 4,000 0 4,000 0

Wanangkura Stadium - Contribution : FMG Memberships and YMCA Spin Bike Cont. Operating 150,000 50,000 150,000 0 150,000 (10,000)

Libraries Projects - Revenue Operating 75,000 25,000 75,000 0 75,000 0

Libraries - Revenue Operating 25,500 8,500 25,500 0 25,500 (7,187)

Libraries - Childrens Book Week Grant Operating 3,980 1,324 3,980 0 3,980 0

Youth Events Revenue Operating 7,500 2,500 7,500 0 7,500

Community Events Income Operating 69,990 23,328 69,990 0 69,990 46,573

North West Festival Income Operating 428,000 428,000 428,000 2,495 430,495 430,495

Non-Operating Revenue: SWIMMING AREAS AND BEACHES Non-operating 428,000 27,000 9,000 455,000 0 455,000 0

Transport -

Non-Operating Revenue: STREETS, ROADS, BRIDGES, DEPOTS Operating 0 0 - 43,547 43,547 43,547

Non-Operating Revenue: STREETS, ROADS, BRIDGES, DEPOTS Non-operating 3,258,644 1,086,200 3,258,644 0 3,258,644 140,786

Infrastructure Maintenance Revenue Operating 0 0 - 4616 4,616 4,616

Infrastructure Construction - MRWA : Direct Grant Operating 161,479 94,168 161,479 0 161,479 94,168

Economic services

Economic Development Project Revenue Operating 0 0 - 4,000 4,000 4,000

Other property and services -

Financial Services Revenue Operating 0 0 - 627 627 627

Human Resources Revenue Operating 10,500 3,500 10,500 0 10,500 6,764

TOTALS 4,088,767 3,285,644 2,854,195 7,374,411 56,844 7,431,256 2,001,774

SUMMARY

Operating Operating Grants, Subsidies and Contributions 3,660,767 0 1,758,995 3,660,767 0 0 1,860,987

Operating - Tied Tied - Operating Grants, Subsidies and Contributions 0 0 0 0 0 0 0

Non-operating Non-operating Grants, Subsidies and Contributions 428,000 3,285,644 1,095,200 3,713,644 0 3,713,644 140,786

TOTALS 4,088,767 3,285,644 2,854,195 7,374,411 0 3,713,644 2,001,774

Adopted Budget YTD Actual


For the Period Ended 31 October 2017NOTE 10. GRANTS AND CONTRIBUTIONS


NOTE 11. BUDGET AMENDMENTS

Amendments to original budget since budget adoption. Surplus/(Deficit)

COA Description Council Resolution Classification

No Change -

(Non Cash

Items)

Adjust.

Increase in

Available

Cash

Decrease in

Available

Cash

Adopted

Budget

Running

Balance

$ $ $ $

Opening Carried Forward Surplus (Deficit) 0

0

0

Adopted Budget Cash Position as per Council Resolution 0 0 0 0





NOTE 12. TRUST FUND

Funds held at balance date over which the Shire has no control and which are

not included in this statement are as follows:

Opening

Balance Amount AmountClosing Balance

Description 1 Jul 17 Received Paid 31 Oct 17

$ $ $ $

Grants for Special Projects 2,200 0 0 2,200

Building Retention 4,616 0 0 4,616

Staff Bonds 2,793 0 (200) 2,593

Nominated Election Bonds 0 1,840 0 1,840

Ranger Service Bonds 2,241 833 (1,071) 2,003

Community Bank 960 0 0 960

Hall Hire Bonds 7,350 0 0 7,350

LBII Trailer/ Bus Bonds 1,502 4,660 (4,660) 1,502

Sports Grounds 23,590 14,770 (8,170) 30,190

Public Open Space 898 0 0 898

BRB Levy 85,155 16,377 (46,259) 55,272

BCITF Levy 43,398 15,399 (55,331) 3,466

DAP Levy 9,672 196 0 9,868

Technical Services Bonds 3,500 0 0 3,500

Unclaimed Money 9,981 0 0 9,981

Sundry Receipts 694 0 0 694

Garden Competition 4,850 0 0 4,850

Building Bonds 22,279 0 0 22,279

225,679 54,075 (115,691) 164,063

There is an imbalance of $4,571 to the Trust Bank account.





Documents

TOWN OF PORT HEDLAND MONTHLY FINANCIAL REPORT For … · 4 Please refer to Compilation Report. TOWN OF PORT HEDLAND NOTES TO THE STATEMENT OF FINANCIAL ACTIVITY For the Period Ended